How do you know these numbers are correct?
Rehab Costs Total Rehab Costs ($110,000.00) Total ($110,000.00)
After Repair Value $575,000.00
When I look at your report all the estimated repairs lines just say "N/A. " So are you just guessing?
What I'm trying to say is that Rehab Cost and ARV are the 2 MOST important numbers to get right so make sure that they are.
Also these seem like rather large numbers for a first deal.
Also also, keep in mind that rates are going up and there may not be as many buyers out there once it's time for you to sell.
Just some cautionary thoughts, but that's where my mind always seems to go.
Thanks for your reply. I am a general contractor in the area, house needs all new windows, and turning 2/2 into a 3/3 and i will be pulling permits. Saying that i'm comfortable and realistic with this rehab estimate and hope to bring in the construction at a lower cost.
Its my first time using bigger pockets so still not sure how to use the site. I have since added the construction numbers to a revised report but can't seem to figure out how to add it to this post. Deal is little large for the first deal, house is located in my local neighborhood so i'm familar with the market. I will need to sell the property for a higher price per sq ft but houses do trade for those price in the neighborhood. ARV concerns me the most followed by monthly holding cost if I can't sell within 6 months.
I have 7 more days left in the inspection period before i need to make a final decision.